The patent system is intended to:
a. prevent natural monopolies from unfairly exploiting their cost advantages.
b. reward innovators by granting them temporary monopolies
c. spread information among firms as quickly and economically as possible.
d. give small businesses a competitive edge over larger businesses.
b
Economics
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In 2007, the value of the American dollar rose relative to the euro
a. True b. False Indicate whether the statement is true or false
Economics
Assume that the reserve ratio is 20 percent and banks in the system are loaning out all their excess reserve. If people collectively cash out $10 billion from their checking accounts, then the lending ability of the banking system will be:
A. Increased by $10 billion B. Decreased by $10 billion C. Decreased by $40 billion D. Decreased by $50 billion
Economics